An asset monitoring and reporting system (AMRS) implements an interface to establish an asset hierarchy to be monitored and reported against. The interface employs a search query of extant asset data from which definitional aspects of the asset hierarchy can be identified, and therefrom the interface automatically determines control information reflective of the asset hierarchy to direct the ongoing operation of the AMRS. The interface further allows for configuration of a metric definition for a metric of an asset node of the asset hierarchy, the metric representing a point in time or a period of time and derived from a metric-time search of machine data produced by or about the asset node and receives an identification of a metric determination specification for the metric definition, the metric determination specification comprising at least identification of a metric component and identification of a calculation operation to apply to the metric component.